"It think it first got leaked four years ago or so that the movie was going to be made, and ever since then it's just been stalling and stalling. So I'm really ready for this to happen. But I'm not kidding: It's very imminent," Paul said.

ET spoke to Paul back in 1987 about his future and if he would ever grow tired of being the iconic character.

"Down the line perhaps,” Paul said. “When I have 10 motion pictures behind me and the receipts on Pee-Wee Land are dwindling it might at that time."

Well his plan of getting 10 movies didn't quite pan out but if you need some TV show nostalgia you can now relive all five seasons of Pee-Wee's Playhouse. The entire show has been digitally re-mastered and released in a blu ray set.

Check out this video to see what else Paul told ET back in 1989 about why the show was loved by all ages.